In terms of revenue, North America dominated the wet wipes industry, with the United States market expected to hold over 30.3% of the region's market share in 2023. During the predicted period, a CAGR of more than 6.2% is expected.
In 2023, the Wet Wipes Market generated US$ 4.3 billion in revenue. The Wet Wipes industry is anticipated to surpass US$ 9.22 billion by 2033, expanding at a CAGR of 7.8% from 2023 to 2033. Sales are anticipated to increase at an accelerated rate as a result of:
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Market Potential for Wet Wipes:
Growing Need for Compact and Convenient Hygiene Solutions:
A convenient and transportable method of keeping clean while on the run is to use Wet Wipes. There is a growing need for goods that provide fast and efficient hygiene solutions due to the fast pace of life and hectic schedules, which presents a sizable opportunity for the Wet Wipes market.
Growth of Online Shopping and E-Commerce:
The growth of e-commerce has dramatically changed consumer buying patterns. Wet Wipes makers can now reach an extensive customer base because of the accessibility and convenience of internet buying. Gaining a large market share and increasing sales can be accomplished by investing in online retail channels and utilizing digital marketing techniques.
Regional Outlook:
With a significant revenue share, North America dominated the Wet Wipes market. Changes in people's lifestyles, an increase in working women, developing internet retailing tendencies, and increased disposable income are the main indicators. North America's demand for baby Wet Wipes is driven by women's growing awareness of infant hygiene.
Many nations in Europe, including Germany, the United Kingdom, and France, place a high value on hygiene and are willing to pay more for upscale personal care and hygiene products. Women now have spare cash in huge amounts, allowing them to spend more on complete personal care and hygiene items, including Wet Wipes.
Asia Pacific’s Wet Wipes market is estimated to develop at a reasonable CAGR from 2023 to 2033. The region's rising demand can be linked to some factors, including the region's expanding urbanization and developing nations' growing desire for goods that offer convenience, time savings, and the same level of cleaning power.
One of the main factors driving the regional expansion is the easy access to Wet Wipes due to the region's rising popularity and high expenditure. The key drivers of product demand include:
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Key Takeaways:
Competitive Landscape:
Several sizable multinational corporations with a significant global footprint characterize the Wet Wipes market.
The Clorox Company, KCWW, Reckitt Benckiser Group PLC, Unilever, Johnson & Johnson Services, Inc., TLC International, WipesPlus, The Honest Company, Procter and Gamble, and Himalaya Wellness Company are a few of the key Wet Wipes manufacturers that have been implementing various expansion strategies to gain a competitive edge. These strategies include mergers and acquisitions, capacity expansions, bolstering of online presence, and new product launches.
Novel Advancements:
Nice-Pak, a pioneer and industry leader in the United States that manufactures and distributes pre-moistened wipes, introduced its revolutionary flushable Wet Wipes with SecureFLUSH technology in December 2021. According to the patented SecureFLUSH technology, a distinctive, 100% cellulose nonwoven wipe that is powerful enough to clean yet quickly disintegrate is produced.
Unveiling a sustainable triumph, Huggies, the cherished brand under the nurturing wings of Kimberly-Clark, took a groundbreaking leap in December 2020. A momentous occasion marked the debut of their first biodegradable marvel, a testament to their unwavering commitment to an eco-friendly future. Under landfill circumstances, the Huggies Pure Biodegradable baby wipes are decomposed in 15 days.
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Key Segments
By Product:
By Disposability:
By Application:
By End User:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jul 04, 2023